we signed with wishgard for 1840 per acre with 15.5 royalty and in the lease it states they must pay us the signing bonus in 90 business days. 90 business days was up on Nov. 7th and we did not recieve any payment or letter stating we do not own mineral rights. I have heard of bigger and better signing bonuses and would like out of this lease contract since they did not pay us in the 90 days. What steps should i take? What companies are actually paying their agreement. I know wishgard has paid some people their 1840 per acre in belmont county. has anybody recieved a larger amount. i may just wait it out because its hard to tell if i sign another lease if they would pay or not. anyone have any good ideas?
Call your lawyer TOMORROW! Don't take legal advise from strangers.
Double Ditto, Call an attorney promptly at 9am tomorrow and dont cash any checks until after your consultation with the O&G lawyer.
I agree and yes there are much much better offers than the 1840, 3 deals in gurensy & Noble signed in last 10 days for around $5000 and 20% gross royalty! Ed Susterics group in Belmont county signed with XTO/Exxon for $4950 & 19% a little over a month or so ago. its worth the talk with an attorney. My opinion for what its worth is that depending on the wording in the payment clause you should be able get out,
Call a good oil and gas attorney IMMEDIATELY! Have them draft a letter detailing that your deal with Wishgard is now null and void due to non-payment and demanding to know the reason they have broken your contract by not paying. There may be a title defect that makes it impossible for them to pay but if they were a responsible outfit they would have communicated this to you already. There are other much better options available in Belmont County IF your title work comes back good.
I was in the exact same shoes as you. signed with W........... for the same money and my 90 business days came and went without payment. I was able to reach the gas company directly and they admitted they had made a mistake and missed paying me. They were very willing to work with me and they sent me a letter of release as well as a letter to the recorders office, stating that i was free and clear of my lease which gave me the right to go and resign, whick i have done in the past month for over $5,000/acre. Talk about a good mistake! I'm feeling lucky and waiting for my check to arrive.
I would not cash any check that you may get, cause i'm sure if they still pay and you do nothing about it and take the money, they will be more than willing to let that one slide through. From what i'm hearing, Belmont County is hot, so roll up your sleeves and get to the bottom of this. It will be worth it in the end. Oh, by the way, not only was i able to sign for over twice of what i had signed for originally, the quality of the lease i signed was light years ahead of the one from W............ Good Luck!!
they told me i needed to send a certified letter and once they receive the letter they have another 60 days to send the payment. sounds like a bunch of crap. i may have to get an attorney after all. any ideas?
Who did they sign with at $5,800/ acre and how do I get in touch with them?
Wishgard Are not your friend! they are there to make money at your expense! if they can make a buck off your lease they are not going to release you unless forced to do so,
if the contract was violated due to non payment a good oil & gas Attorney can get it voided, it well worth what you pay him to void a $1600 deal at 16% for the pending offer of $5800 &20% Gross
im going to get the letter sent out soon thanks for the info
well w******* recieved my certified letter. they said i did not get paid because my bank needed to sign or send a letter about a subordinate clause dealing with our mortgage . they tried to influence me in going to the bank and getting that done so it sounds like they cannot proceed without it. one lady at w******* was helpful and changed my opinion of the company for now, and she stated that she would show my letter to her marketing partner to see if they will release me from the lease. so it sounds like i will get released soon i hope. wanted to update if anyone was following this